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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1489]
Green, Ha to face off in legal stoush on unpaid commissions
Tuesday, 4 October 2011, 7:25 am | BusinessDesk
Oct. 3 (BusinessDesk) – Auckland property moguls Hugh Green and Don Ha are set to square off in court next year after the High Court gave each group a victory in the fight over unpaid commissions. More >>
SMELLIE ON SMEs: Small business tax avoiders: read this
Monday, 3 October 2011, 6:55 pm | BusinessDesk
Oct. 4 (BusinessDesk) – Do you own a small business that traded between 2000 and 2010? Yes? Read on. More >>
NZ dollar drops to fresh six-month low
Monday, 3 October 2011, 5:46 pm | BusinessDesk
NZ dollar drops to fresh six-month low after shedding 12% in 3Q, poised to go lower More >>
MARKET CLOSE: NZ stocks fall with global equities
Monday, 3 October 2011, 5:42 pm | BusinessDesk
Oct. 3 (BusinessDesk) - New Zealand stocks fell, though they outperformed in a global sell-off amid perceptions the New Zealand economy is in relatively good shape. Fletcher Building Ltd. was among decliners, while Rakon Ltd. and Tower Ltd. rose. More >>
UPDATED: Tower lifts premiums on bigger reinsurance bill
Monday, 3 October 2011, 4:38 pm | BusinessDesk
Oct. 3 (BusinessDesk) – Tower Ltd., the insurer whose cornerstone shareholder Guinness Peat Group is looking to sell its stake, has increased its premiums on rising costs of reinsurance. More >>
NZ commodity prices decline for fourth month
Monday, 3 October 2011, 1:46 pm | BusinessDesk
Oct. 3 (BusinessDesk) – New Zealand commodity prices fell for a fourth straight month in September as demand for locally produced raw materials comes off its record highs amid signs of a global economic slowdown. More >>
Reserve Bank returns to profit, trims dividend to $210 mln
Monday, 3 October 2011, 12:39 pm | BusinessDesk
Oct. 3 (BusinessDesk) – The Reserve Bank of New Zealand returned to profit in the 2011 financial year on unrealised gains in its investment portfolio, and trimmed its return to the government to $210 million. More >>
Turners Auctions says trading is gathering positive momentum
Monday, 3 October 2011, 12:07 pm | BusinessDesk
Oct. 3 (BusinessDesk) – Vehicle auctioneer Turners Auctions says its financial year started quietly but is gathering positive momentum. More >>
NZ Dollar Outlook: Kiwi seen declining from six-month low
Monday, 3 October 2011, 12:00 pm | BusinessDesk
Oct. 3 (BusinessDesk) - The New Zealand dollar may extend its decline this week as Europe grapples with its sovereign debt crisis, while China -- often a source of positive economic news for New Zealand-- enjoys its national Golden Week holiday ... More >>
Midday update: Kiwi starts new quarter at six month low
Monday, 3 October 2011, 11:44 am | BusinessDesk
Oct. 3 (BusinessDesk) – Credit rating downgrades for New Zealand debt by Fitch Ratings and Standard & Poor’s are weighing on the New Zealand dollar, which starts the last quarter of the calendar year at close to a six month low-point. While ... More >>
Freightways spends $12.7M on unprofitable Iron Mountain unit
Monday, 3 October 2011, 11:15 am | BusinessDesk
Oct. 3 (BusinessDesk) – Freightways Ltd., the courier and data management company, spent $12.7 million to acquire the subsidiary of an American information management company that has yet to turn a profit. More >>
Major oil explorers assemble for NZ pep talk
Monday, 3 October 2011, 11:09 am | BusinessDesk
(BusinessDesk) – A high-powered group of global oil and gas exploration companies, including Chevron and the Chinese national oil company, have converged on Wellington today for a targeted push to encourage new interest in the country’s under-explored ... More >>
Fulton Hogan profit falls 7%, lowest returns in five years
Monday, 3 October 2011, 10:56 am | BusinessDesk
Oct. 3 (BusinessDesk) – Fulton Hogan Ltd., the closely held construction company, reported a 7% decline in full-year profit as finance costs rose and it spent more buying back Shell New Zealand’s stake and taking a related impairment. More >>
Vector urges total review of price regulation for monopolies
Monday, 3 October 2011, 10:16 am | BusinessDesk
Oct. 3 (BusinessDesk) – Auckland electricity and gas network owner Vector Ltd. is calling for a “fundamental review” of the process for regulated price-setting on monopoly utility providers following its success in the High Court against the ... More >>
Tower lifts premiums on extra $1.7 mln reinsurance bill
Monday, 3 October 2011, 10:05 am | BusinessDesk
Oct. 3 (BusinessDesk) – Tower Ltd., the insurer whose cornerstone shareholder Guinness Peat Group is looking to sell its stake, has increased its premiums after facing an extra $1.7 million bill to secure reinsurance for the 2012 financial year. More >>
NZ dollar trades near six-month low in wake of rating cuts
Monday, 3 October 2011, 9:07 am | BusinessDesk
Oct. 3 (BusinessDesk) – The New Zealand dollar starts the new quarter under pressure, trading near six-month lows following the sovereign credit rating cut by Fitch and Standard & Poor’s on Friday and ongoing concern about Europe’s debt crisis. More >>
World Week Ahead: The start of a better quarter?
Monday, 3 October 2011, 6:33 am | BusinessDesk
Oct. 3 (BusinessDesk) - Stocks in mature and emerging markets rounded out a weak quarter last week on doubts the global economy can sustain its pace of growth. More >>
Govt signals ban on ETS funny money
Sunday, 2 October 2011, 12:10 pm | BusinessDesk
Sept. 30 (BusinessDesk) – The government looks ready to ban use of international carbon credits derived from Third World projects that allow major carbon emitters in New Zealand to lower the cost of carbon they face under the Emissions Trading ... More >>
MONEY TALKS: To dabble or not to dabble
Friday, 30 September 2011, 6:54 pm | BusinessDesk
Sept. 30 (BusinessDesk) – Well how about that? The world’s financial markets go pear-shaped and we get two companies coming out of the woodwork looking to raise money in a stock exchange listing. More >>
NZ dollar plumbs six-month lows after two ratings downgrades
Friday, 30 September 2011, 6:23 pm | BusinessDesk
Sept. 30 (BusinessDesk) – The New Zealand dollar is heading for a declining quarter, after being hammered today by the actions of two ratings companies, downgrading the sovereign debt rating one notch to AA. More >>
